Central Rand Gold Regulatory News (CRND)

The Company hereby announces that it has received notice of partial exercise in respect of the convertible security previously entered into with Bergen Global Opportunity Fund, LP ("Bergen") at a conversion price of 0.9 pence, the details of which were announced to the market on 7 June 2016 pursuant to which 9,656,489 ordinary shares (the "Relevant Shares") fall to be issued. Application has therefore been made for the Relevant Shares to be admitted to trading on AIM and to the JSE Limited with admission expected to take place on 24 October 2016. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 184,659,349 ordinary shares with voting rights. This figure of 184,659,349 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Rules and Transparency Rules of the United Kingdom Listing Authority.

For further information, please contact:

Central Rand Gold +27(0) 87 310 4400

Lola Trollip / Nathan Taylor

Panmure Gordon (UK) Limited - Nominated Adviser & Broker +44 (0) 20 7886 2977

Adam James / James Greenwood

Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363

Monique Martinez / Marcel Goncalves

20 October 2016

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").